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Life insurance and alcohol use

One of the questions you will be asked when you purchase life insurance is: How often and how much do you drink? There's a major difference between those who like to drink once in a while and people who are addicted with it.

Excessive drinking can lead to a number of serious chronic conditions such as liver disease, stroke, depression, dementia, and cardiovascular problems. Heavy alcohol use is associated with a shorter life expectancy so the life insurance companies will want to know if you have a drinking problem. Most companies will increase their premium rates for customers with a history of alcoholism. You might even get rejected by some insurers when they find out that your drinking is more than social.

The policy provider will take into consideration several factors and depending on these factors he could offer you a "rated" policy, put you in a higher rate or even decline your application. Once you've had your alcohol issue addressed, your rate will probably be lowered.

If DUI is a recent case, you will more than likely be disqualified from the best life insurance rating class. Insurers will look into everything involved in your drunk driving conviction. When filling out the application make sure you don't omit any information about your alcohol use as lying on your application will be considered fraud.